Latest TKS Solutions News
Oct 23, 2015
TPG Capital-backed Eze Software Group To Acquire TKS Solutions 10/22/15 BOSTON--( BUSINESS WIRE )--Eze Software Group, a premier provider of global financial technology, has signed a definitive agreement to acquire TKS Solutions, LLC, a Mount Kisco, N.Y.-based specialty software provider of shareholder and partnership accounting tools, for an undisclosed amount. The deal is expected to close next month. TKS Solutions’ core product, known as Penny It Works, will add partnership and shareholder reporting capabilities to the existing portfolio accounting and portfolio management tools in Eze Software Investment Suite. Top asset managers and fund administrators leverage Penny to calculate fees and generate statements for any type of fund in a controlled and auditable environment. The TKS suite also contains a fee calculator that will calculate complex management/incentive fees and can be integrated into any environment. “We are excited to add the TKS products, people and domain expertise to our company,” said David Quinlan, Executive Managing Director at Eze Software Group. “Currently we have excellent portfolio-level accounting tools that allow us to produce Net Asset Values (NAV) for our clients, but many of our clients ask for tools that produce reports focused on shareholder and limited partner accounting. Adding Penny is a logical extension of our current portfolio accounting capabilities.” “This is a fantastic new partnership for TKS. Our complementary product lines and company cultures are a perfect fit. The global sales and support infrastructure of Eze Software Group will help us accelerate our growth around the world,” said Ron Kashden, Founder of TKS. TKS’s clients include hedge funds, administrators, asset managers and private equity funds, as well as wealth management platforms. The products currently produce shareholder accounting reports for approximately $500 billion in assets under management. About Eze Software Group Eze Software Group is a premier provider of global investment technology to support the front, middle and back office. The Eze Software Investment Suite addresses the core business needs of the asset management community, including Order Management, Trade Execution & Analytics, Portfolio Analytics & Modeling, Compliance & Regulatory Reporting, Commission Management, Data Management and Portfolio Accounting. Eze Software partners with more than 2,000 buy- and sell-side institutions in 30 countries across North and South America, EMEA, and Asia Pacific. Clients include hedge funds, institutional asset managers, mutual funds, pension funds, endowments, family offices, wealth managers, and broker-dealers across a range of strategies, investment products, and asset classes. Based in Boston, Eze Software employs more than 1,000 associates in 12 offices worldwide. For more information, visit www.ezesoft.com . About TKS Solutions, LLC TKS Solutions is a Microsoft partner offering specialized partnership and shareholder accounting solutions for the financial industry. Its Penny It Works software is used to manage more than 950 onshore and offshore funds with approximately $500 billion in assets under management. Penny is tailored to the specific needs of leading hedge funds, funds of funds, private equity firms, fund administrators and management companies with assets under management ranging from $100 million to over $100 billion. For more information, visit www.pennyitworks.com . Stories you Need to Know Stories you Need to Know It's on us. Share your news here.